Service Exports from Brazil
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Notes 1. Valls Pereira, Sennes, and Muder (2009) confirm that the dynamic performance of Brazil’s service exports is associated with the internationalization of Brazilian companies. However, they stress the importance of the rise of inward FDI in the service sector, which expands Brazil’s export capacity. They also emphasize the role of Brazilian investment abroad, particularly within the region, in the service sector. 2. This process of internationalization of Brazilian companies has had support from BNDES since 2002 (Alem and Cavalcanti 2005). 3. Information on Brazilian FDI can be found on the Central Bank of Brazil website at http://www4.bcb.gov.br/rex/cbe/port/ResultadoCBE2009.asp. 4. There were no privatizations in the 2000s, which included the last two mandates of President Luiz Inácio Lula da Silva.
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